Manappuram board approves Rs 600-crore NCD issue proposal

Manappuram Finance said that its board has approved the issuance of non-convertible debentures (NCDs) having a face value of Rs 1 lakh each, for an aggregate amount of Rs 600 crore on private placement basis.

The said NCDs would be secured, non-cumulative, redeemable, listed, rated and taxable.

The announcement was made during market hours today.

Manappuram Finance is one of India's leading gold loan NBFCs.

The NBFCs consolidated net profit jumped 46.08% to Rs 572.87 crore on 34.41% increase in revenue to Rs 2,305.28 crore in Q2 FY24 over Q2 FY23.

The scrip was up 0.03% to currently trade at Rs 182.05 on the BSE.

 

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